Searching for the top money-making opportunities in the international trade of exports and imports between the Philippines and Canada? Look no further. In this post we rank the 10 most lucrative products exchanged by the two countries.
All told, exporters in the Philippines sold US$538.6 million worth of goods to Canadian importers during 2017. That dollar amount represents a -4.4% decline from the $563.5 million in Canada’s purchases from the Philippines two years earlier in 2015.
In comparison, Canadian products sold to the Philippines cost a total $720.6 million, significantly more than the value of exports from the Philippines to Canada. Filipino import purchases from Canada in 2017 were 82.8% higher than the $394.2 million price tag for 2015.
The bottom line is that the Philippines incurred a -$181.9 million deficit trading with Canada in 2017. This contrasts with the $169.3 million intercountry surplus for the Philippines during 2015.
Top 10 Filipino Exports to Canada
By value, the following major export products represent close to three-quarters (71.7%) of total shipments from the Philippines to Canada. Shown within parenthesis is the corresponding percentage for each product in 2017.
- Insulated wire/cable: US$274.9 million (51% of Philippines-to-Canada exports)
- Coconuts: $18.8 million (3.5%)
- Integrated circuits/microassemblies: $13.9 million (2.6%)
- Dates/figs/pineapples/mangoes/avocadoes/guavas: $13.2 million (2.4%)
- Unrefined copper: $13.2 million (2.4%)
- Printing machinery: $12.7 million (2.4%)
- Miscellaneous preserved fruits: $12.3 million (2.3%)
- Locks, lock-keys: $9.8 million (1.8%)
- Coconut/palm/babassu oil: $9.1 million (1.7%)
- Bread, biscuits, cakes, pastries: $8.5 million (1.6%)
Printing machinery was the fastest-growing top Filipino export to Canada. That product category gained in value by 7,453% from $168,000 in 2015 to almost $13 million for 2017.
In second place was the dates, figs, pineapples, mangoes, avocadoes and guavas category via its 116.4% improvement. Coconut shipments from the Philippines to Canada expanded in value by 67.1%, followed by Filipino bread, biscuits, cakes and pastries thanks to its 48.4% uptick from 2015 to 2017.
Top 10 Filipino Imports from Canada
Lumber-related items, food and aircraft dominate the list of major Canadian exports to the Philippines. One interesting anomaly is the $31.4 million worth of potassic fertilizers shipped from Canada which enables the Philippines to grow its own food products.
- Wood carpentry, builders’ joinery: US$143.3 million (19.9% of Filipino imports from Canada)
- Aircraft, spacecraft: $138 million (19.2%)
- Swine meat: $54.5 million (7.6%)
- Wheat: $36.5 million (5.1%)
- Potassic fertilizers: $31.4 million (4.4%)
- Iron ores, concentrates: $30.7 million (4.3%)
- Poultry meat: $27.9 million (3.9%)
- Other prepared/preserved vegetables (frozen): $18.6 million (2.6%)
- Sawn wood: $14.2 million (2%)
- Other food preparations: $13.5 million (1.9%)
Five Canadian products imported into the Philippines grew in value by triple-digits from 2015 to 2017. Wood carpentry and builders’ joinery increased by 501.7% continuing a positive trend for Canada’s lumber exports. Filipino imports of miscellaneous frozen prepared or preserved vegetables from Canada appreciated by 403.4%. Other impressive gains over the two-year period applied to Canadian shipments of iron ores and concentrates (up 249.4%), chicken meat (up 179.3%) and pork (up 125.6%).
The two decliners among the Philippines’ top imports from Canada were sawn wood (down -69.9%) and wheat (down -58.7%).
Central Intelligence Agency, The World Factbook, Field Listing: Exports. Accessed on January 31, 2019
Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on January 31, 2019